Solar Panel Cost Guide in Owatonna, MN (Jan 2023)
- Owatonna Solar Installation Cost: $14,234
- 25-Year Savings: $20,853
- Payback Period: 10.1 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Top Solar Installers in Owatonna
Many homeowners choose to use a solar installation company since installing solar panels on your own can be a labor-intensive endeavor. Some solar companies, particularly local ones, can help you make the most of incentives in Owatonna, optimizing your ROI.
If you're on the hunt for a solar company in Owatonna, we've compiled a list of our top suggestions here:
See all of the solar companies in Owatonna
Factors that Affect Solar Panel Costs in Owatonna
For many Owatonna homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Owatonna, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you'll pay, which we'll go over below.
When it comes to estimating the price of a solar system in Owatonna, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy usage, which you can figure out by looking at past energy bills. Your total cost can increase by about $2,840 for each additional kilowatt you need. The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your energy bills. In addition, extra products, such as solar batteries, can bump up your total well above the Owatonna average.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That's why many Owatonna homeowners decide to finance their solar panel systems to offset upfront costs. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panel system can influence the cost. Owatonna's solar companies all have different labor costs and add varying upcharges to equipment. The size of the company sometimes plays the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger names.
Solar Panel Cost Data by System Size
|System size||Cost per system watt||Solar system cost||25-Year savings||Payback period|
|6 kW||$2.95||$12,405||$16,983||10.6 years|
|8 kW||$2.90||$16,222||$22,962||10.3 years|
|10 kW||$2.84||$19,880||$29,100||10.1 years|
|12 kW||$2.78||$23,379||$35,397||9.9 years|
|14 kW||$2.73||$26,719||$41,854||9.7 years|
|16 kW||$2.67||$29,900||$48,469||9.5 years|
|18 kW||$2.61||$32,921||$55,243||9.3 years|
|20 kW||$2.56||$35,784||$62,177||9.1 years|
How to Save on Solar Panels
Since the type of solar panels and the installation company you choose significantly affects your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: Your solar installer should have a sound reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Before signing a contract with a solar installer, make sure you read it through completely so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Solar Panel Brands: The kind of solar panel you want to get plays a role in which company you should opt for, since different companies offer different panels.
EcoWatch's Owatonna, MN Solar Cost FAQs
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.